Six ways to choose the best insurer for life insurance

You may not need all of these. But knowing the types of cover helps you compare insurers properly and choose the best life insurance for your situation.

2. Look beyond the headline price

Two policies can cost the same but work very differently. The best insurer is not always the cheapest one. When you compare life insurance, look at:

• what exclusions apply
• whether premiums are guaranteed or reviewable
• whether you can increase cover later without new medical checks
• how illnesses, disabilities and terminal illness are defined

The best life insurance is usually the one with clear terms and fewer surprises, not the one with the lowest price.

3. Why underwriting matters more than you think

Underwriting is how insurers assess your health, lifestyle and risks. It can change the price you pay, the terms you get, and even whether an insurer offers you cover at all.

If you have:

• a medical history
• a family medical history
• a higher risk job
• a higher BMI
• or you are older

…then insurers may treat the same information very differently.

Choosing the wrong insurer may lead to higher premiums, extra exclusions, or even a declined application. Choosing the right insurer for your circumstances can make a big difference to how much you pay and how safe the cover is for the future.

4. Check how insurers handle claims

Claims are the real test of any insurer. Many insurers publish claims statistics, which show how many claims they pay and why some aren’t paid. The percentage alone does not tell the full story. What matters is why claims are declined.

Insurers who explain their decisions clearly, in plain English, tend to inspire more trust.

Service matters as well. Claims are the moment when customers most need help. By then, it is too late to switch. Look at independent reviews, industry standards, and whether an insurer follows the Protection Distributors Group Claims Charter. This can give you a sense of how the insurer behaves when people need support the most.

5. Financial strength matters

Your policy may pay out many years from now. That is why it helps to check whether an insurer is financially stable. Ratings from companies such as Standard & Poor’s, Moody’s and Fitch show if an insurer is strong and well run. This matters when choosing the best insurer for long term protection.

6. Price vs value: know the difference

Two policies may look similar in price but offer quite different value. Definitions, exclusions and extra benefits can all affect how well the policy works when you need it. The best life insurance is the one that protects you and your loved ones properly, not just the one that costs the least.

Why a protection adviser makes choosing easier

Comparing insurers alone can be difficult. There is lots to look at and much depends on your own health and circumstances. A protection adviser can guide you through this. They help you compare insurers clearly and find the best life insurance for your needs. All at no extra cost to you.

Advisers are paid by a commission built into every policy. And if regulated advice ever goes wrong, you have the Financial Ombudsman as a safety net. Something you do not get when choosing alone.